olivLaw · European equity research
Iconic Labs PLC ICON.L
United Kingdom · London Stock Exchange · ISIN GB00BRBJ3P08 · Vertical: Listed companies from United Kingdom
Iconic Labs PLC is a London-listed company that, in fiscal 2025, had no active trading business and was seeking a reverse takeover (RTO) to restart growth. Its financial position is fragile: it reports a net liability position of £3,962,268 and total assets of only £95,044, and its working capital has come solely from promissory notes issued to an investor.
At the close of 05 Nov 2026, Iconic Labs PLC (ICON.L) stock was 0.02 GBP (+56.00% on the day), with market capitalisation 204.2 k GBP, beta -0.40, 52-week range 0.01–0.04 GBP.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 65.9
- strong (55–70)
- Bollinger (20, 2)
- 0.01 – 0.02
- in the upper half of the band · %B 0.98 · band width 67.8%
- SMA 50 / 200
- 0.02 / 0.03
- mixed trend
- MACD (12, 26, 9)
- -0.00 / -0.00
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | +8.3% | −0.6% | +9.0 pp | — |
| 3 months | +44.4% | −4.2% | +48.6 pp | — |
| 6 months | unavailable | +4.3% | unavailable | — |
| Year to date | unavailable | +7.5% | unavailable | — |
| 1 year | −13.3% | +9.9% | −23.3 pp | +5.8% |
| 3 years | −62.0% | +49.8% | −111.8 pp | +26.3% |
| 5 years | unavailable | +42.8% | unavailable | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 0 | 0 | 0 |
| Revenue YoY | unavailable | unavailable | unavailable |
| Net income | 4.6 m | -246.1 k | -628.2 k |
| Net income YoY | unavailable | −105.4% | unavailable |
| Diluted EPS | 0.00 | -0.03 | -0.06 |
| Diluted EPS YoY | unavailable | unavailable | unavailable |
| net % | unavailable | unavailable | unavailable |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2025 · 30 Jun 2025
- Cash
- 35.7 k GBP
- Financial debt
- 3.1 m GBP
- Net debt
- 3.0 m GBP
- Equity
- -4.0 m GBP
- Total assets
- 95.0 k GBP
- Debt / equity
- unavailable
- Current ratio
- 0.02x
- ROE
- unavailable
- ROA
- -536.1%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (GBP)
Income statement · GBP
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | esef· 18 Nov 2025verified |
| Gross profit | 0 | 0 | 0 | esef· 18 Nov 2025verified |
| Operating income | 4.6 m | -246.1 k | -555.1 k | esef· 18 Nov 2025verified |
| Pre-tax income | 4.6 m | -246.1 k | -619.3 k | esef· 18 Nov 2025verified |
| Income tax | 0 | 0 | 8.9 k | esef· 18 Nov 2025verified |
| Net income | 4.6 m | -246.1 k | -628.2 k | esef· 18 Nov 2025verified |
| Diluted EPS | 0.00 | -0.03 | -0.06 | esef· 18 Nov 2025verified |
Balance sheet · GBP
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 50.2 k | 129.3 k | 35.7 k | esef· 18 Nov 2025verified |
| Receivables | 0 | 10.0 k | 59.3 k | esef· 18 Nov 2025verified |
| Current assets | 50.2 k | 139.3 k | 95.0 k | esef· 18 Nov 2025verified |
| Intangibles (excl. goodwill) | 1 | 1 | 1 | esef· 18 Nov 2025verified |
| Total assets | 50.2 k | 139.3 k | 95.0 k | esef· 18 Nov 2025verified |
| Accounts payable | 1.8 m | 875.6 k | 980.8 k | esef· 18 Nov 2025verified |
| Short-term debt | 2.2 m | 2.6 m | 3.1 m | esef· 18 Nov 2025verified |
| Current liabilities | 3.9 m | 3.5 m | 4.1 m | esef· 18 Nov 2025verified |
| Total liabilities | 3.9 m | 3.5 m | 4.1 m | esef· 18 Nov 2025verified |
| Equity | -3.8 m | -3.4 m | -4.0 m | esef· 18 Nov 2025verified |
| Shares outstanding at year end | — | 8.2 m | 10.5 m | esef· 18 Nov 2025derived |
Cash flow · GBP
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 1 of at least 6
- score weight coverage: 4.2% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 204.2 k GBP
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
4% · Insufficient data
Estimated value range
unavailable — no valuation assumptions for the reporting currency
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
Assumptions (illustrative, editorial)
- Risk-free rate
- 6.5%
- Equity risk premium
- 6.0%
- Beta (default)
- 1.00
- Cost of equity
- 12.5%
- Terminal growth
- 3.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 1 of at least 6; score weight coverage: 4.2% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | unavailable | unavailable | — |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 0.0x | 0 (on a fixed band) | 100% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial0/100 · 1/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partialunavailable · 0/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
ICONIC LABS PLC (ICON.L). Latest full fiscal year: 2025; data up to 2025-06-30.
Figures computed from the financial statements: revenue 0 GBP in 2025.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 1 of at least 6; score weight coverage: 4.2% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- Current ratio: 0.0x
Not assessed (insufficient data or a ratio without meaning): ROIC, Net margin, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Listed companies from United Kingdom · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| BATS.LBritish American Tobacco P.L.C. | 104.3 bn | 13.5 | 16.5% | 30.3% | −1.0% | +7% / +88% |
| ABF.LAssociated British Foods PLC | 14.7 bn | 14.3 | 9.2% | 5.3% | −3.1% | −5% / −15% |
| 0EV1.LCarnival PLC | 5.5 bn | 4.1 | 46.7% | 13.4% | +6.4% | unavailable / unavailable |
| BAB.LBabcock International Group PLC | 5.1 bn | 24.7 | 34.7% | 4.1% | +7.2% | −10% / +158% |
| AUTO.LAutotrader Group PLC | 4.8 bn | 16.4 | 60.2% | 47.1% | +3.9% | −13% / −23% |
| BBY.LBalfour Beatty PLC | 4.2 bn | 16.3 | 23.2% | 2.8% | +15.2% | +20% / +160% |
| ABDN.LAberdeen Group PLC | 4.1 bn | 10.8 | 8.0% | 28.9% | −2.1% | +11% / +41% |
| BKG.LThe Berkeley Group Holdings PLC | 3.6 bn | 11.3 | 8.8% | 13.4% | −4.2% | −0% / −22% |
| BME.LB&M European Value Retail PLC | 2.9 bn | 17.4 | 21.2% | 2.8% | +3.7% | +68% / −51% |
| AJB.LAj Bell PLC | 2.4 bn | 22.8 | 49.9% | 33.1% | +18.0% | +8% / +128% |
| ASHM.LAshmore Group PLC | 1.4 bn | 13.9 | 13.1% | 71.6% | −0.1% | +28% / +18% |
| BCG.LBaltic Classifieds Group PLC | 1.2 bn | 23.2 | 15.8% | 57.6% | +6.9% | −99% / −99% |
| APN.LApplied Nutrition PLC | 763.6 m | 36.2 | 41.2% | 19.7% | +24.2% | +71% / unavailable |
| BAG.LA.G. Barr P.L.C. | 671.9 m | 14.4 | 14.4% | 10.8% | +4.0% | −7% / +26% |
| ASC.LAsos PLC | 494.5 m | — | -81.3% | -12.0% | −14.7% | +71% / +8% |
| ALFA.LAlfa Financial Software Holdings PLC | 486.8 m | 16.3 | 61.5% | 23.8% | +15.3% | −28% / +10% |
| AML.LAston Martin Lagonda Global Holdings PLC | 344.3 m | — | -93.4% | -39.2% | −20.6% | −45% / −85% |
| APTD.LAptitude Software Group PLC | 111.3 m | 28.5 | 7.2% | 6.2% | −7.3% | −30% / −23% |
| AMGO.LAmigo Holdings PLC | 9.9 m | — | — | — | −81.9% | +325% / +844% |
| ASBE.LAssociated British Engineering PLC | 605.3 k | — | -19.1% | — | unavailable | unavailable / unavailable |
| AMIF.LAmicorp Fs (uk) PLC | 221.6 k | 0.1 | 27.5% | 9.1% | +8.1% | unavailable / unavailable |
| ICON.LIconic Labs PLC | 204.2 k | — | — | — | unavailable | +11% / unavailable |
| AAF.LAirtel Africa PLC | — | — | 24.1% | 10.6% | +29.5% | −7% / +164% |
| AAL.LAnglo American PLC | — | — | -19.3% | -20.2% | +4.5% | +30% / +76% |
| ACG.LAcg Metals Limited | — | — | -80.3% | -32.0% | +134.8% | +60% / +63% |
1- and 3-year price returns: for ICON.L from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Iconic Labs PLC is a London-listed company that, in fiscal 2025, had no active trading business and was seeking a reverse takeover (RTO) to restart growth. Its financial position is fragile: it reports a net liability position of £3,962,268 and total assets of only £95,044, and its working capital has come solely from promissory notes issued to an investor 1.
SWOT
Strengths
- An investor has confirmed its intention to continue short-term funding, giving some continuity while a target is sought 1.
- A low cost base with no employees and accounting brought in-house limits fixed expenses 1.
- Management is focused on a single priority, the reverse takeover, without spreading resources across other directions 1.
Weaknesses
Opportunities
- Completing a reverse takeover could bring a new operating business and a base for longer-term growth 1.
- Resuming the advisory strategy in online media, artificial intelligence and data analysis, if a suitable target is found 1.
- A stronger governance structure could follow a new business, with committees potentially reactivated 1.
Threats
Risks
- Going concernhigh
The report indicates a material uncertainty that may cast significant doubt on the company's ability to continue as a going concern, which could lead to the realisation of its assets 1.
- Dependence on a single funderhigh
All working capital comes from one investment fund, and its withdrawal could halt operations 1.
- Failure to complete the reverse takeoverhigh
If a target is not identified, negotiated and closed within a short time, the company could remain without any operating activity 1.
- Loss of listingmedium
In the event of a wind-down or administration, the ordinary shares could be removed from the Official List, which could reduce liquidity 1.
- Limited governance capacitylow
The small board and absence of employees could make governance problems difficult to manage in a crisis 1.
Investment thesis
What would need to be true (bull case)
- If a reverse takeover with an operating company is completed, the company could obtain a revenue base, and its current low-cost structure could support later growth 1.
- The investor's commitment to continue short-term funding could provide the time needed to find a suitable target 1.
- The directors' exclusive focus on a single priority could speed up the search for and negotiation of a transaction 1.
What would break the thesis
- Total assets of only £95,044 and a net liability position of £3,962,268 point to a financial position that could make continuing operations difficult without external funding 1.
- If investor funding stops before a target is identified, shareholders could receive little or nothing for their shares 1.
- With no revenue or trading activity, any value could depend entirely on the success of a transaction that has not yet been identified 1.
What to watch
- Identification of a reverse takeover target and signing of the transaction2026
- Continuity of investor funding and the balance of promissory notesnext annual report
- Reactivation of the remuneration and audit committees after the RTOafter RTO
- Changes in the net liability position and total assets compared with fiscal 2025next annual report
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
According to the annual report for the year ended 30 June 2025, Iconic Labs is not currently engaged in any trading activity, and the directors have no intention or plans to recommence trade 1. The earlier strategy of identifying companies in online media, artificial intelligence and big data for advisory contracts was dropped in favour of a single priority: acquiring a suitable company through an RTO. The company had no employees at 30 June 2025, and management was carried out solely by directors 1.
The governance structure is small: the board includes one executive director (the chief executive) and two non-executive directors, and the remuneration and audit committees are made up of the non-executive members 1. Accounting was brought in-house to save costs, and the group audit is conducted by an external firm 1.
Working capital has relied on promissory notes issued to an investment fund, which has confirmed its current intention to provide short-term funding while a target is identified and assessed 1.
Segments
Advisory activity (strategy abandoned)
Before the recent change, the company intended to generate revenue through advisory contracts with companies in online media, artificial intelligence and data analysis, but the board has ceased this direction 1.
Reverse takeover (RTO)
The only priority activity is identifying and closing a reverse takeover, which could turn the company into an operating entity; success depends on finding a target quickly 1.
Market context
The annual report does not describe a product or service market in which the company was active in fiscal 2025, because it had no trading operations. Relevant market context is therefore absent from the source, and any market assessment would need additional documents 1.
The market relevant to the company's objective is that of reverse takeover targets in the online media, artificial intelligence and data analysis sectors, but the source gives no data on the size of this market 1.
Trends
- Dependence on investor fundingheadwind
The company relies entirely on promissory notes issued to an investment fund; if a target is not identified quickly, funding could stop 1.
- Search for a reverse takeovertailwind
Focusing all efforts on identifying an RTO could provide a new operating base if one is completed 1.
- Uncertainty over going concernheadwind
The report notes a material uncertainty about the company's ability to continue as a going concern, which could lead to a wind-down of operations 1.
- Lower operating costsmixed
Bringing accounting in-house was done to save costs, which could reduce fixed expenses while the company has no revenue 1.
Competitive position
The source does not identify direct competitors of Iconic Labs PLC, because the company had no trading activity in fiscal 2025. Instead, the relevant competition is for reverse takeover targets, where other entities pursue the same opportunities 1.
The company's competitive position therefore depends on its ability to complete a transaction rather than on an existing product portfolio, and the source gives no information on other entities it could be compared with 1.
- Other entities seeking reverse takeover targets
The source names no specific competitors; such entities could compete for the same reverse takeover opportunities.
- Online media companies
These are the sector where the company originally intended to offer advisory services, with no competitor detail given in the source 1.
- Artificial intelligence and data analysis companies
Sectors the company previously targeted for advisory contracts; the source names no specific entities 1.
- Corporate advisory firms
Could serve the same strategy needs the company intended to cover, though the source does not name them 1.
News & filings
In the press
- Trump seeks national monument status for iconic White House roomsThe Hill · 05 Nov 2026 · EN
- Mystery origin of iconic Stonehenge Altar Stone deepens as search narrowsPhys.org · 05 Nov 2026 · EN
- Türkiye remembers iconic, controversial PM EcevitDaily Sabah — Economy (TR, EN) · 04 Nov 2026 · EN
- Most Versatile? Why Boeing Made The Iconic 747-400 Compatible With 3 Distinct PowerplantsSimple Flying · 02 Nov 2026 · EN
- (LEAD) Family, fellow actors bid farewell to iconic actor Choi Bool-amYonhap News (KR, EN) · 02 Nov 2026 · EN
- Family, fellow actors bid farewell to iconic actor Choi Bool-amYonhap News (KR, EN) · 02 Nov 2026 · EN
- Heidi Klum reveals Halloween costume as her iconic party marks 25 yearsCNA (Channel NewsAsia) · 02 Nov 2026 · EN
- This Iconic New England Hotel Is My Favorite Place to Stay During Fall Foliage SeasonConde Nast Traveler · 31 Oct 2026 · EN
- For many, striped bass fishing is a way of life. But the iconic species could face collapsePhys.org · 30 Oct 2026 · EN
- Vatican exhibition traces 100-year evolution of iconic popemobileDaily Sabah — Economy (TR, EN) · 30 Oct 2026 · EN
- How Florida’s Amendment 3 Would Affect the State’s Iconic Water ResourcesInside Climate News · 30 Oct 2026 · EN
- Iconic labor leader Dolores Huerta dies aged 96 in CaliforniaThe Guardian World · 28 Oct 2026 · EN
- Singapore fling: Staying at the iconic Raffles that started it allThe Points Guy · 27 Oct 2026 · EN
- Al Jazeera meets iconic pro-Palestine Japanese activistAl Jazeera English · 27 Oct 2026 · EN
- ‘It’s magical’: London’s iconic Oxford Street goes vehicle-freeAl Jazeera English · 27 Oct 2026 · EN
- Lula, Brazil's iconic working class president, wins historic fourth term in dramatic comebackCNA (Channel NewsAsia) · 26 Oct 2026 · EN
- Lula, Brazil’s iconic working class president, wins historic fourth term in dramatic comebackThe Japan Times · 26 Oct 2026 · EN
- Koalas are cute, furry, iconic – and dying of chlamydia. But how well does the approved vaccine work?The Guardian — Environment · 25 Oct 2026 · EN
- The Mexican town that makes the iconic Day of the Dead garlandsThe Japan Times · 22 Oct 2026 · EN
- Cartier’s Into the Wild exhibition in Singapore celebrates nature, craftsmanship and its iconic PantherCNA (Channel NewsAsia) · 21 Oct 2026 · EN
Annual reports (ESEF)
- Annual report 202518 Nov 2025
- Annual report 202405 Nov 2024
Sources
- [1] Annual report, fiscal year ended 2025-06-30 (ESEF) · SEC / Iconic Labs PLC · 30 Jun 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.